Elizabeth Warren To Education Dept: Stop Profiting Off Student Loans
Thursday, February 26, 2015
"It is striking that the Department still intends to generate such significant revenue from federal loan programs designed to help young people get an affordable education," the Senators wrote in the letter.
In the letter, the Senators note that recent estimates show that the federal government will produce $110 billion in profits from it's student loan program over the next decade.
The letter also explains that the profits will be collected because the Department of Education has failed to use its existing legal authority to help struggling borrowers.
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